diff --git a/charts/kyverno/Chart.yaml b/charts/kyverno/Chart.yaml
index f6c04525cb..de216be85c 100644
--- a/charts/kyverno/Chart.yaml
+++ b/charts/kyverno/Chart.yaml
@@ -1,7 +1,7 @@
 apiVersion: v1
 name: kyverno
-version: 1.2.1
-appVersion: v1.2.1
+version: v1.3.0-rc1
+appVersion: v1.3.0-rc1
 icon: https://github.com/kyverno/kyverno/blob/master/documentation/images/Kyverno_Horizontal.png
 description: Kubernetes Native Policy Management
 keywords:
diff --git a/definitions/install.yaml b/definitions/install.yaml
index a9be965f81..dbac53487a 100755
--- a/definitions/install.yaml
+++ b/definitions/install.yaml
@@ -2398,7 +2398,7 @@ spec:
               fieldPath: metadata.namespace
         - name: KYVERNO_SVC
           value: kyverno-svc
-        image: nirmata/kyverno:v1.2.1
+        image: nirmata/kyverno:v1.3.0-rc1
         imagePullPolicy: Always
         livenessProbe:
           failureThreshold: 4
@@ -2441,7 +2441,7 @@ spec:
           runAsNonRoot: true
           runAsUser: 1000
       initContainers:
-      - image: nirmata/kyvernopre:v1.2.1
+      - image: nirmata/kyvernopre:v1.3.0-rc1
         imagePullPolicy: Always
         name: kyverno-pre
         securityContext:
diff --git a/definitions/kustomization.yaml b/definitions/kustomization.yaml
index 8bf51cf2d2..406e1f0363 100755
--- a/definitions/kustomization.yaml
+++ b/definitions/kustomization.yaml
@@ -8,7 +8,7 @@ resources:
 images:
 - name: nirmata/kyverno
   newName: nirmata/kyverno
-  newTag: v1.2.1
+  newTag: v1.3.0-rc1
 - name: nirmata/kyvernopre
   newName: nirmata/kyvernopre
-  newTag: v1.2.1
+  newTag: v1.3.0-rc1